A survey of small independent businesses shows little optimism for making capital outlays, increasing inventories or expanding, a mood that does not bode well for the economy.
Those findings are contained in the National Federation of Independent Business’ monthly index of small business optimism.
That optimism rose just two-tenths of a point in May to 93.8, a negligible increase at best and well below the 42-year average of 98.
“The bottom line is that without an empowered small business sector, the economy will grow at a mediocre pace,” said NFIB chief economist Bill Dunkelberg. “Politicians in Washington credit any insignificant growth in the economy to their policies, but realistically, it’s the increase in the population. At this point, we should expect the same slow growth for the rest of the year.”
While state specific data is not available, the national findings in the survey are reflected in Alabama, said NFIB state director Rosemary Elebash.
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